11 Cheap NYSE Stocks to Invest in According to Hedge Funds

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5. Exxon Mobil Corp. (NYSE:XOM)

Forward P/E Ratio as of April 8: 13.4

Number of Hedge Fund Holders: 104

Exxon Mobil Corp. (NYSE:XOM) explores and produces crude oil and natural gas. It operates through its Upstream, Energy Products, Chemical Products, and Specialty Products segments. It’s involved in the manufacture, trading, transportation, and sale of crude oil, natural gas, petroleum products, petrochemicals, and other specialty products.

On February 4, DBS analyst Suvro Sarkar reaffirmed a Buy rating on the company while keeping a price target of $133 due to the company’s strong financial performance, particularly the Upstream segment which explores and produces oil and gas. It achieved record production in 2024 led by the performance in the Permian Basin and Guyana. By 2030, Permian production is anticipated to reach 2.3 million barrels per day. This number equaled 1.5 million in 2024.

In 2025, Exxon Mobil Corp. (NYSE:XOM) will implement projects like Yellowtail in Guyana and advanced Permian recovery techniques to focus on low-cost, low-emission, and high-return growth. Yellowtail is Guyana’s largest deepwater oil project, and advanced techniques boost Permian Basin oil and gas extraction. Guyana is also pursuing a gas partnership with Suriname to build an industrial hub.

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